How to Buy a Home with No Money Down


Buy A Home with No Money Down

Do you want to buy a home with no money down? Can you really buy a home with no money down? What if someone told you that it is possible to buy a home with no money down?  Yes, you heard that right! You can buy a home with no money down.  Why not keep your money in your pocket?  Buying a new home comes with many unforeseen expenses.  Most people that are buying a home use most of their available savings for a downpayment.  Why not keep your savings where it belongs?

I Want to Buy a Home But Do Not Have a Downpayment

Are you tired of paying your landlord’s mortgage payment? Are you frustrated because you are paying more in rent than you would for a mortgage payment? Are you looking to put money towards something that builds equity over time? Buying a house is the most effective way to build your financial future.  What is stopping you from acquiring a home of your own? Many people in your situation cannot save up for a downpayment because the high cost of rent prevents them from putting extra money aside.

Can I Buy a Home with No Money Down?

The cost of renting is at an all-time high.  The increased demand for housing and limited supply makes it possible for landlords to raise rent prices. National rent prices have increased by 2.1% from the same time last year.  According to the August 2016 National Rent Report rent prices are continuing to increase.  From July 2016 to August 2016, rent prices have increased up to .3%.  With rent prices increasing, more renters are having a difficult time putting money aside for a down-payment for a home.  However, with this new program, you can buy a home with no money down.

How Do I Buy a Home with No Money Down?

Buying a home with no money down is fairly easy.  Although you must have a minimum 700 credit score to qualify.  You do not need to be a first time homebuyer.  Additionally, there is no recapture of a tax credit if the home is sold at a later date.  This is not like the First Time Homebuyer Credit that needed to be paid back or required that you lived in the home for a minimum of three years.  There are no limits on the sales price of the home.  Additionally, there is no minimum borrower contribution.  There are no prepayment penalties and gift funds and there is an allowance of 6% of the sales price for Seller’s closing cost credits. This program does not require any borrower reserves or assets.

Do I Qualify to Buy a Home with No Downpayment?

Even if you do not qualify for a no downpayment home loan, there are other programs available.  USDA Home loans offer 100% financing and FHA loans require a down payment of as little as 3.5%.  The first thing you should do before making any decisions is to speak to a licensed mortgage loan specialist who can determine which program is right for you.  Arlene Disessa is a Mortgage Loan Specialist who specializes in no money down home loans.  Talk to a Mortgage Loan Specialist or Mortgage Broker to see how you can qualify for a home loan today.  Contact Arlene Disessa at 530.813.0661 or email her at Arlene Disessa is an Editor in Chief of, a mortgage and real estate information center.


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